ES Journal Archive (2006 - 2008)

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Quote from pulsescan:

in other words the breakout appears to be false. the mkt should continue downward. we will know this if when the breakout point is tested we remain above that point on the close of the bar.

you can see the flag forming on the 60 min chart.
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i would have to agree with you that we are most likely going lower, especially since we keep testing the 1205 line in the sand....
 
Quote from saliva:

You do have a point. But, as I've already said, chart analysis tends to get thrown out with the bathwater in times like this.
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R U referring to the uncertanty of the PPT coming in and pushing the market higher without a moments notice?

If so, I used to be scared like that back when I was trading in 2000 when the Fed would lower rates without warning and in between meetings. It was worse back then compared to last week. For example: ES would explode +110 points within 2 minutes - sometimes within seconds!!!
The Dow would explode 600+ points along with the 400 + points of the NASDAQ 100. Those were outrages times. Even without news driven events there is still always that inherent risk with the markets that can drive prices kaotic within moments and often without notice.

Thats why we trade these markets. Without that kind of possibility for risk there is also no possibility of reward.


:cool:

P.S. we still have to trade these markets.:cool:
 
Quote from pulsescan:

R U referring to the uncertanty of the PPT coming in and pushing the market higher without a moments notice?
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Not necessarily PPT per se, but the uncertainty that's driving this market. It's clearly reflected in the lack of any definable trend and, as a result, you're more prone to lose than make money.
 
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